Post by
CashHungry on Nov 17, 2021 9:44am
Prepare to Launch
On the down side oil seems to be hitting a resistance at around $80. It should bounce around awhile between $80 and $85, but the bull market is still in progress and at some point there will be a catalyst (won't take much) to send oil on its way to $100. I think before then oil stocks will begin to trek higher as psycologically the down side resistance level of $80 may be just as important as the breakout above $85.
CPG is a cash generating monster at $80, generating over a billion dollars in FCF. Considering the prospect that oil could realisticly trade between $85 to $90 next year (some forecasting higher), CPG should soon have a market cap yeild of +50% at today's stock price. How could you not want to aboard this rocket ship?
Comment by
Bpultra on Nov 17, 2021 9:56am
================= Well short term I got a sell at the high of the day ... so far that is .. I see the shorts added back a bunch of shares ... maybe good for long term thinking...
Comment by
Bpultra on Nov 17, 2021 10:11am
Yes but also remember I loaded up on CPG at 88 cents .. so I have made my money .. and you are 100% right ... my lesson was teck bought in the 4s sold at a double in the 8s and now look at it ... but until this stock has a change inside .. the shorts rule .. should be able to get shares back in the 5.80s will see .. oil not holding.. algos are trading this ============
Comment by
Bpultra on Nov 17, 2021 10:27am
yes and something that people may not consider is that with oil dropping this could help the cpg hedge program with the swaps etc etc .. meaning they loose less .. and I see the shorts have given a bunch of shares back so they maybe moving on ... ??? =======
Comment by
Bpultra on Nov 17, 2021 12:37pm
and there you have it back in the 5.80's .... =======
Comment by
Bpultra on Nov 17, 2021 1:00pm
============= part yes... but not 100% ... the oil traders may push this a bit lower yet ... but on the positive side the shorts have put back 700,000 shares so that has me watching the upside.... and if I get a read we are going back up wll buy higher .. but got a very nice div already today
Comment by
Bpultra on Nov 17, 2021 1:19pm
============ there is a big block parked at 5.80 ..we are currenlty over sold right now ,,,, so don't know if we will get there but oil is still dropping so algo;s and shorty shorts could push it there .. for the long blocks I hope 5.80 holds but not looking so good right now
Comment by
Bpultra on Nov 17, 2021 1:59pm
===== did you just see that .... they tried to break 5.80 and just as they were about to .. anom #1 came and scooped a bunch but I bet they try again
Comment by
Bpultra on Nov 17, 2021 2:23pm
======================== and they did it ...